The real estate market in Newport County is seeing steady activity, with 18 homes changing hands just last week. While things are cooling down a bit for sellers as we approach the winter months, there are still great opportunities for buyers who are ready to act before the spring rush.
As detailed in the recent HousingWorks RI report, home prices in Rhode Island have surged by 50% since 2018 in many communities, including Providence, Pawtucket, Central Falls, Bristol, Newport, and Narragansett. While this increase has made it more challenging for some to enter the market, it also means that those who are looking now can still find opportunities before prices potentially rise again.
While Rhode Island’s home prices have been rising steadily, as noted in the HousingWorks RI report, things may slow down for sellers as we head into winter. Some buyers may choose to wait until the spring, making it a great time for those looking to act now to take advantage of reduced competition.
Speaker Joe Shekarchi recently highlighted the importance of increasing inventory to help ease the burden of rising home prices, emphasizing the role that local communities play in advocating for housing development. As Shekarchi stated, “It’s incumbent upon everybody here that when there’s an opportunity for a housing development in your community, to speak out in favor of it.”
With fewer people expected to enter the market during the colder months, savvy buyers can find good deals by acting sooner rather than waiting for the spring market.
For both buyers and sellers, now is the time to be strategic and consider the long-term potential of your real estate goals. The market may slow, but the right opportunities are still out there for those who are ready.
Looking ahead, it’s clear that the market will remain shaped by available inventory—or the lack thereof. While interest rates and economic factors may contribute to a slower pace, the tight supply is expected to continue fueling demand, especially for well-priced homes in desirable locations.
Navigating this competitive landscape requires expertise and insight. Tyler Bernadyn, co-owner of RE/MAX Results, offers deep knowledge of the local market and is committed to providing the guidance and support needed for a successful real estate transaction. Tyler’s community-first approach ensures that your experience will be seamless and rewarding.
For more information on these recent sales or to schedule a consultation, please reach out to Tyler at TylerB@resultswithremax.com or call 401-241-1851.
Here’s a look at What Sold last week in Newport County
Jamestown
- 35 Battery Lane
- Sales Price: $3,175,000.00
- Type of Property: Contemporary
- Bedrooms: 4
- Bathrooms (FB/HB): 4/1
- Square Footage: 4,090
- Days on Market (DOM): 143
- 20 Marcello Drive
- Sales Price: $2,800,000.00
- Type of Property: Contemporary
- Bedrooms: 4
- Bathrooms (FB/HB): 4/1
- Square Footage: 4,282
- Days on Market (DOM): 49
Middletown
- 6 Buena Vista Avenue
- Sales Price: $4,230,000.00
- Type of Property: Colonial
- Bedrooms: 4
- Bathrooms (FB/HB): 2/1
- Square Footage: 3,363
- Days on Market (DOM): 0
- 36 Green End Avenue
- Sales Price: $865,000.00
- Type of Property: Ranch
- Bedrooms: 2
- Bathrooms (FB/HB): 2/1
- Square Footage: 1,248
- Days on Market (DOM): 47
- 23 King Road
- Sales Price: $596,000.00
- Type of Property: Bungalow
- Bedrooms: 3
- Bathrooms (FB/HB): 2/0
- Square Footage: 1,265
- Days on Market (DOM): 70
- 3 Wood Street
- Sales Price: $525,000.00
- Type of Property: Ranch
- Bedrooms: 3
- Bathrooms (FB/HB): 2/0
- Square Footage: 1,095
- Days on Market (DOM): 0
- 14 Kay Boulevard
- Sales Price: $1,675,000.00
- Type of Property: Other
- Bedrooms: 7
- Bathrooms (FB/HB): 4/1
- Square Footage: 4,500
- Days on Market (DOM): 67
Newport
- 120 Carroll Avenue
- Sales Price: $1,700,000.00
- Type of Property: Colonial
- Bedrooms: 8
- Bathrooms (FB/HB): 3/0
- Square Footage: 2,935
- Days on Market (DOM): 47
- 7 Bedlow Place
- Sales Price: $870,000.00
- Type of Property: Bungalow
- Bedrooms: 3
- Bathrooms (FB/HB): 1/0
- Square Footage: 1,452
- Days on Market (DOM): 12
- 218 America
- Sales Price: $965,000.00
- Type of Property: Town House
- Bedrooms: 1
- Bathrooms (FB/HB): 1/1
- Square Footage: 1,039
- Days on Market (DOM): 6
- 13 Carey Street
- Sales Price: $645,000.00
- Type of Property: Up/Down
- Bedrooms: 3
- Bathrooms (FB/HB): 2/0
- Square Footage: 1,240
- Days on Market (DOM): 35
Portsmouth
- 329 Freedom Trail Drive
- Sales Price: $799,000.00
- Type of Property: Colonial
- Bedrooms: 3
- Bathrooms (FB/HB): 2/1
- Square Footage: 1,828
- Days on Market (DOM): 0
- 70 Rebels Way
- Sales Price: $810,000.00
- Type of Property: Town House
- Bedrooms: 2
- Bathrooms (FB/HB): 2/1
- Square Footage: 2,308
- Days on Market (DOM): 19
Tiverton
- 216 Church Pond Drive
- Sales Price: $980,000.00
- Type of Property: Colonial, Contemporary
- Bedrooms: 4
- Bathrooms (FB/HB): 3/1
- Square Footage: 2,513
- Days on Market (DOM): 37
- 187 Horizon Drive
- Sales Price: $756,000.00
- Type of Property: Contemporary
- Bedrooms: 4
- Bathrooms (FB/HB): 3/1
- Square Footage: 2,968
- Days on Market (DOM): 92
- 3552 Main Road
- Sales Price: $650,000.00
- Type of Property: Cape Cod
- Bedrooms: 3
- Bathrooms (FB/HB): 2/1
- Square Footage: 2,327
- Days on Market (DOM): 32
- 43 Lewis Avenue
- Sales Price: $649,000.00
- Type of Property: Cape Cod
- Bedrooms: 3
- Bathrooms (FB/HB): 2/0
- Square Footage: 1,747
- Days on Market (DOM): 51
- 91 Bellview Avenue
- Sales Price: $400,000.00
- Type of Property: Ranch
- Bedrooms: 2
- Bathrooms (FB/HB): 1/0
- Square Footage: 844
- Days on Market (DOM): 7
